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Olney On Votto, Cain, Hamels

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Two National League stars signed massive extensions yesterday and Buster Olney discusses the two deals in his latest column at ESPN.com. Some highlights, starting with Joey Votto's $225MM deal:

  • “At some point this contract will be a drag on a team in a mid-market,” one talent evaluator told Olney. Another called the deal “nuts,” and a third said it’s “absolute insanity.” One supporter of the deal said letting Votto go would have crushed the franchise.
  • If the Giants hadn’t offered Matt Cain a record-setting deal, he would have obtained a nine-figure deal elsewhere. Olney suggests it’d be hard to find a more consistent pitcher than Cain.
  • Talks between the Phillies and Cole Hamels have been dormant in recent weeks, but could be rekindled at any time. Olney finds it hard to imagine that an offer worth markedly less than Cain’s $112.5MM deal would have much appeal to Hamels and agent John Boggs. Ruben Amaro Jr. recently said the Phillies can afford three $20MM starters.

Quick Hits: Cain, Lester, Bumgarner, Votto, Vazquez

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We saw not one, but two historic contract extensions handed out today. Here's the latest from around the league…

Giants To Extend Matt Cain

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7:16pm: Shea hears that the sixth year option will not vest if Cain finishes the fifth year of the contract on the disabled list with an elbow or shoulder injury (Twitter link).

2:04pm: The Giants announced that they have agreed to a five-year extension with Matt Cain. Cain's deal guarantees him $112.5MM in new money through 2017, Danny Knobler of CBSSports.com reports (on Twitter). The deal, which establishes a record for right-handed pitchers, includes a club/vesting player option for 2018. Landon Williams, Rick Landrum and Jeff Berry of CAA Sports represent Cain, who had been scheduled to hit free agency following the 2012 season.

“Ensuring that Matt remained a Giant beyond this season was a top priority for the organization," Giants GM Brian Sabean said via press release. "Matt is an integral part of the team whose performance on the mound will be one of the keys to our success for years to come.”

Cain has emerged as a frontline starter in recent years. The 27-year-old has completed 200 innings in five consecutive seasons, and has impressive career rate stats. He consistently outperforms his strong peripheral stats to post low ERAs. Most recently, he posted a 2.88 ERA with 7.3 K/9, 2.6 BB/9 and a 41.7% ground ball rate in 221 2/3 innings last year. 

The deal figures to affect at least two other ace pitchers: Tim Lincecum and Cole Hamels. Lincecum is on track for free agency following the 2013 season and Hamels will be eligible for free agency this winter. Should Hamels reach a deal with the Phillies, it will presumably mirror Cain's contract. Zack Greinke could also use Cain's deal as a reference point in talks with the Brewers.

If Cain had tested the market next offseason, teams such as the Dodgers and Yankees could have entered the bidding. Instead teams seeking pitching in free agency will turn their attention to the likes of Hamels, Greinke and Anibal Sanchez.

Today's deal breaks Kevin Brown's long-standing record for right-handed pitchers. Brown signed a seven-year, $105MM contract following the 1998 season.

Cain obtains a signing bonus of $5MM and his 2012 salary of $15MM remains unchanged, Ken Rosenthal of FOX Sports reports (Twitter links). The right-hander will earn $20MM annually from 2013-17 and the deal includes a $21MM option with a $7.5MM buyout for 2018, according to Rosenthal. The 2018 option will vest if Cain is healthy in 2017, according to Jon Heyman of CBSSports.com (on Twitter). Otherwise it becomes a club option. Cain has full no-trade protection, according to Jim Bowden of ESPN.com and MLB Network Radio (Twitter link).

Luke Adams of MLBTR anticipated the terms of the upcoming extension with considerable accuracy in December. John Shea of the San Francisco Chronicle first reported that the sides would agree to terms.

Talks Accelerate Between Giants, Cain

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The volume of dialogue has increased between the Giants and Matt Cain's representatives as Friday's  deadline edges near, sources tell Andrew Baggarly of CSNBayArea.com.  While the deadline of Friday has been characterized as soft, the pitcher would like talks to be wrapped up prior to the Giants' Opening Day.

Sources tell Baggarly that Cain's camp has not shown any signs of lowering their asking price.  It's believed that five years and $100MM is the floor in negotiations and it's not known if the Giants have even offered that much.  In a chat with fans on Thursday, CEO Larry Baer insisted the club was not making "lowball" offers to the 27-year-old.

Cain Expected To Sign Five-Year Deal

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The Giants will sign right-hander Matt Cain to an extension "in the neighborhood of" five years and $110MM by Opening Day, two sources tell John Shea of the San Francisco Chronicle (on Twitter). Landon Williams and Rick Landrum of CAA Sports represent Cain, who had been scheduled to hit free agency following the 2012 season.

Cain has emerged as a frontline starter in recent years and the upcoming deal would establish a record for right-handed pitchers, as long as it's worth more than $105MM. The 27-year-old has completed 200 innings in five consecutive seasons, and has impressive career rate stats. He consistently outperforms his strong peripheral stats to post low ERAs. Most recently, he posted a 2.88 ERA with 7.3 K/9, 2.6 BB/9 and a 41.7% ground ball rate in 221 2/3 innings last year. 

The deal figures to affect at least two other ace pitchers: Tim Lincecum and Cole Hamels. Lincecum is on track for free agency following the 2013 season and Hamels will be eligible for free agency this winter. Should Hamels reach a deal with the Phillies, it will presumably mirror Cain's contract. Zack Greinke could also use Cain's deal as a reference point in talks with the Brewers.

Cain will earn $15MM in 2012. Luke Adams of MLBTR anticipated the terms of the upcoming extension with considerable accuracy in December.

This post was originally published on April 2nd, 2012.

Quick Hits: Hamilton, Axelrod, Abreu, Pelfrey, Mets

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Saturday night linkage..

  • Josh Hamilton told Richard Durrett of ESPN Dallas that he's open to talking to the Rangers about a contract extension during the season. “If they want to talk to my agent, we’ll cross that bridge when we get to it,” he said after previously indicating an unwillingness to negotiate during the season.
  • Agent Barry Axelrod has been discussing employment opportunities with the Diamondbacks, reports Nick Piecoro of The Arizona Republic (Twitter links). Axelrod and GM Kevin Towers are close friends.
  • Unlike agents Jeff Moorad and Arn Tellem, Scott Boras has no desire to own a major league team, writes Jon Paul Morosi of FOXSports.com.
  • The Angels' deal to trade Bobby Abreu to the Indians fell apart due to salary concerns, a source familiar with the talks told Mike DiGiovanna of the Los Angeles Times. Cleveland wanted the veteran slugger but the two sides couldn't agree upon how much of his $9MM salary they would assume.
  • Mets pitcher Mike Pelfrey was surprised to learn that his job was on the line during spring training, writes David Lennon of Newsday. The front office was kicking around the idea of releasing the 28-year-old before Opening Day to free up roughly $4MM, the non-guaranteed portion of his one-year, $5.7MM deal.
  • Scouts covering the Giants say the club is getting nervous about rotation depth, tweets Jayson Stark of ESPN.com.
  • The Orioles cut minor league pitcher Josh Banks, tweets Steve Melewski of MASNsports.com. The right-hander spent most of 2011 with the Giants' Triple-A affiliate and posted a 7.27 ERA with 5.8 K/9 and 2.5 BB/9 in twelve starts and seven relief appearances.

Mike Axisa contributed to this post.

Giants To Release Mike Fontenot

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The Giants have placed infielder Mike Fontenot on release waivers, Henry Schulman of the San Francisco Chronicle reports (Twitter links). The Giants agreed to terms with the arbitration-eligible Fontenot on a one-year, $1.05MM deal this offseason, and they'll save three quarters of that sum by cutting ties with him today.

Fontenot posted a .227/.304/.377 line in 252 plate appearances at second base, shortstop and third base last year. The Fielding Bible Volume III suggests Fontenot provides adequate defense around the infield. He'll obtain approximately $250K in termination pay from the Giants. Teams like the Phillies and Rangers could have interest in signing the 31-year-old.

Quick Hits: Cain, Hosmer, Team Values, Izturis

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Ichiro Suzuki and Yoenis Cespedes are the early stars of this young 2012 season, with the rest of the league waiting until next week to catch up to the Mariners and Athletics.  Here's some news from around the majors…

  • Matt Cain reiterated to reporters (including Henry Schulman of the San Francisco Chronicle) that Opening Day is the "cutoff" for contract talks between him and the Giants.  Cain said Giants GM Brian Sabean feels the same way.  Larry Baer, the team's CEO, discussed the Cain negotiations and more in a live chat with fans earlier today.
  • Royals first baseman Eric Hosmer is in no hurry to sign a multiyear contract, he tells Tyler Kepner of the New York Times.  "There’s a long time for that coming,” Hosmer said of a possible contract extension. “For me, I haven’t even experienced an opening day yet….I feel like it wouldn’t even be fair to this team to start thinking about that.”  Last January, MLBTR's Mike Axisa featured Hosmer as an extension candidate.
  • Sports business consultant Marc Ganis tells ESPN New York's Adam Rubin that if the Dodgers are worth $2.15 billion, it greatly raises the ceiling for the prices of baseball's big-market teams.  Ganis estimates the Yankees would be worth $4 billion, the Red Sox $2.5 billion and the Mets roughly $1.5 billion.  Only the biggest markets would have higher price tags, however, since they offer the most lucrative local broadcasting deals.
  • Also from Henry Schulman (Twitter links), Gregor Blanco says he chose the Giants over the Marlins in the offseason since San Francisco hitting coach Hensley Meulens promised Blanco a legitimate chance at a roster spot.  It looks like Blanco made the right choice, as he's poised to start the season in the majors after a big Spring Training.
  • Alexi Amarista's impressive camp has made him a candidate for a utility job with the Angels, but Mike DiGiovanna of the L.A. Times says Amarista is too inexperienced at the big league level to make Maicer Izturis expendable.  Izturis' name has been connected to a few trade rumors this spring as several teams are in the market for infielders.
  • Cesar Izturis (Maicer's older brother) has been told he will make the Brewers' roster, says team media director Mike Vassallo (Twitter link).  Izturis' minor league deal with Milwaukee allowed him to ask for his release if he wasn't on the 40-man roster by March 30, but now his $875K salary for 2012 is guaranteed.
  • MLB.com's Jordan Bastian (via Twitter) predicts the Indians to make a "big roster reduction" on Saturday as the team starts to pare down its roster from its current 41-player state.  Bastian says the Tribe has been "looking at trades" as well, and indeed Cleveland has at least one notable deal reportedly in the works.
  • If the Angels cut Jason Isringhausen, the veteran reliever tells MLB.com's Alden Gonzalez that he'll probably retire, though there's a slight chance he'll keep pitching if he gets the right offer.  "It depends on who's that team that might call, who they'd be," Isringhausen said.

NL West Notes: Montero, Parra, Giants, Kasten

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It was on this day in 1983 that the Dodgers, after selling 27,000 season tickets, cut off season ticket sales for the upcoming season out of a desire to leave large quantities of seats available for walkup and group sales.  The club could be on the way to rekindling this popularity in Los Angeles, as tickets are selling fast with the news that the Magic Johnson/Stan Kasten group has bought the team.

Some items from the Dodgers and elsewhere in the NL West…

  • Miguel Montero is looking for a contract akin to Victor Martinez's four-year, $50MM deal with the Tigers, according to Jon Heyman of CBS Sports.  Montero is entering the last year of his contract with the Diamondbacks and Heyman believes that the Snakes will have trouble re-signing the catcher at his desired price.  While Yadier Molina's extension with the Cardinals raised the bar for catcher contracts, I think Montero needs one more big season to prove himself worth of a Martinez-esque deal.  The D'Backs could also use V-Mart as a reverse example, pointing to his season-ending ACL injury as an example of why a catcher's health is tenuous (thought Martinez had mostly transitioned to a DH spot in Detroit) and why they'd be hesitant to make such a commitment to Montero.
  • Montero wouldn't confirm his contract demands to Jack Magruder of FOX Sports Arizona and said he "can’t really think about" potentially giving the Diamondbacks a hometown discount "right now" since he's focused on the upcoming season.
  • The Diamondbacks are still getting trade inquiries about Gerardo Parra but the team isn't going to move the Gold Glover, tweets MLB.com's Steve Gilbert.  Arizona GM Kevin Towers describes the trade market as "pretty quiet."
  • Henry Schulman of the San Francisco Chronicle looks at the details of the Giants' TV contract, which runs through the 2032 season.
  • In case you missed it earlier today, Giants CEO Larry Baer commented on the negotiations between the team and pending free agent Matt Cain.
  • In an interview with Chris Russo of Mad Dog Radio on SiriusXM, Stan Kasten dismissed criticism that his group overpaid for the Dodgers and thought they met "the market value" for the team.  Kasten did say that Mark Walter, the chief executive of Guggenheim Partners, views the Dodgers as "a gold standard asset that you just cannot acquire….there are values there that just transcend conventional return on investment metrics."
  • Kasten has heard "generally favorable" impressions about Dodgers GM Ned Colletti and manager Don Mattingly and isn't planning to make any management changes, "but you don’t know anything until you work with people."
  • Kasten said that the team will look into renovating, not replacing, Dodger Stadium.  Ken Rosenthal of FOX Sports, however, speculates that the Dodgers could build a new ballpark in downtown Los Angeles and sell the Chavez Ravine land to a group looking to build a stadium for a new NFL team for L.A.

Giants CEO: Team Isn’t “Lowballing” Matt Cain

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Giants CEO Larry Baer said both his club and Matt Cain's representatives are "both working very hard" to reach agreement on a contract extension for the star right-hander.  Cain's future in San Francisco was a hot topic during Baer's web chat with fans on MLB.com (quotes passed along by Andrew Baggarly of CSNBayArea.com) and Baer stressed that the team is making every effort to lock Cain up to a multiyear deal.

"Our desire is for [Cain] to remain a Giant. There’s nothing we’ve seen from him that shows his desire is not to be. We just keep plugging along," Baer said.  "There’s been a lot of mischaracterizations with hard-and-fast deadline or we’re lowballing him. Those are uneducated. I can’t promise it will or won’t happen — that’s going to ultimately be the process of negotiation and Matt’s decision."

"We’d like to keep the homegrown players that are performing and Matt Cain is at the top of the list."

We heard last week that negotiations between Cain and the Giants hadn't yielded much progress, though the two sides had recently started talking again.  Baggarly noted that the MLBPA was keeping an eye on Cain's contract given that he has already signed two extensions considered to be below-market, which is perhaps a reason why Baer made a point of saying the Giants weren't "lowballing" Cain. 

Still, Baggarly reports the Giants are again looking to pay Cain less than the estimated six-year, $120MM deal he'd find on the open market due to the additional risk the team would be taking on should the right-hander be injured before his extension begins in 2013.  It's also possible the Giants could be waiting to see if the Phillies extend Cole Hamels, with that deal becoming the blueprint for a new Cain contract.

The Giants potentially face a looming threat in the NL West now that the Dodgers have been sold and will once again have money to spend, but Baer didn't think the Dodgers' new ownership group would immediately impact next winter's free agent market.  In any case, San Francisco's focus is not on free agents, but rather locking up their own players.

"Fans would like certain free agents like Albert Pujols …  but the first priority is homegrown players that we still think have a lot of productivity left," Baer said. "(But) we can’t control the overall economics of player and agent. It’s got to be something that allows us to field a team that will win.”

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